Ella 
The Indian rupee traded in negative territory.
A stronger dollar and concerns about oil supply disruptions in the US triggered a fall in the rupee.
Investors will closely watch the testimony of Federal Reserve Chairman Jerome Powell on Tuesday.
The Indian rupee (INR) weakened on Tuesday against the backdrop of a rebound in the US dollar. The INR retreated as investor sentiment soured on concerns that Tropical Storm Beryl could disrupt oil supplies in the US. However, bets on a September rate cut by the US Federal Reserve rose after US jobs data on Friday showed a cooling in the US labor market, which could weaken the dollar.
Federal Reserve Chairman Jerome Powell’s semi-annual monetary policy testimony to US lawmakers on Tuesday will be closely watched. An analyst at ING Bank said the event “could be an opportunity for him to share whether the latest data has increased the odds of a September rate cut.” Dovish comments from Chairman Powell could drag the dollar lower and limit the upside for the currency pair.
